Banco de Sabadell S.A bought a new position in Twitter, Inc. (NYSE:TWTR – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 42,370 shares of the social networking company’s stock, valued at approximately $1,842,000.
A number of other hedge funds also recently added to or reduced their stakes in TWTR. Amplius Wealth Advisors LLC acquired a new position in shares of Twitter during the 4th quarter worth $31,000. Concord Wealth Partners increased its stake in shares of Twitter by 238.1% during the 4th quarter. Concord Wealth Partners now owns 977 shares of the social networking company’s stock worth $42,000 after purchasing an additional 688 shares during the last quarter. Masso Torrence Wealth Management Inc. acquired a new position in shares of Twitter during the 4th quarter worth $42,000. Covestor Ltd acquired a new position in shares of Twitter during the 4th quarter worth $45,000. Finally, Pinnacle Holdings LLC acquired a new position in shares of Twitter during the 3rd quarter worth $64,000. Institutional investors own 91.72% of the company’s stock.
TWTR opened at $40.17 on Friday. The company has a current ratio of 6.58, a quick ratio of 6.58 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $30.67 billion, a PE ratio of 174.66 and a beta of 0.56. Twitter, Inc. has a 1-year low of $31.30 and a 1-year high of $73.34. The firm has a 50-day moving average price of $44.00 and a two-hundred day moving average price of $41.48.
Twitter announced that its board has initiated a stock buyback program on Thursday, February 10th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the social networking company to repurchase up to 14% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.
In other Twitter news, major shareholder H R. H. Prince Alwaleed Bin Saud purchased 490,000 shares of the stock in a transaction dated Friday, May 13th. The stock was bought at an average price of $40.73 per share, for a total transaction of $19,957,700.00. Following the transaction, the insider now directly owns 30,590,078 shares in the company, valued at $1,245,933,876.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Robert Kaiden sold 17,695 shares of the business’s stock in a transaction that occurred on Thursday, May 5th. The shares were sold at an average price of $50.50, for a total transaction of $893,597.50. Following the transaction, the chief accounting officer now owns 173,721 shares of the company’s stock, valued at approximately $8,772,910.50. The disclosure for this sale can be found here. Insiders sold a total of 542,764 shares of company stock valued at $20,773,371 in the last 90 days. Corporate insiders own 2.70% of the company’s stock.
Several research analysts have recently commented on the stock. Wolfe Research dropped their price target on shares of Twitter from $52.00 to $45.00 and set a “peer perform” rating on the stock in a research note on Friday, February 11th. Bank of America lowered their target price on shares of Twitter from $79.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, February 11th. Robert W. Baird lowered their target price on shares of Twitter from $80.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, February 11th. KeyCorp lowered their target price on shares of Twitter from $70.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Twitter from $35.00 to $54.20 and gave the company a “hold” rating in a research note on Tuesday, April 26th. Two analysts have rated the stock with a sell rating, twenty-five have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $49.27.
Twitter Profile (Get Rating)
Twitter, Inc operates as a platform for public self-expression and conversation in real-time. The company's primary product is Twitter, a platform that allows users to consume, create, distribute, and discover content. It also provides promoted products that enable advertisers to promote brands, products, and services, as well as enable advertisers to target an audience based on various factors, including who an account follows and actions taken on its platform, such as Tweets created and engagement with Tweets.
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